The gold miner ETF of GDX saw a
net March gain of +$1.37 (4.4%). Multi-month price structure remains a valid (if overly long) bull flag. Relative to gold and silver, the miners are fairing well.
GDX, monthly
Summary
March was a mixed month for the
gold and silver miners, with GDX printing $30.64, but rebounding to
settle at $32.50. The s/t outlook is mixed. Things turn interesting >34s, and to be decisive >psy' $40
Three of the key miners...
Newmont (NEM), monthly
A net March gain of +$6.42 (11.9%) to $60.27, which was just shy of the monthly 10MA at $60.88. Momentum ticked lower, and is fractionally negative.
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Barrick Gold (GOLD), monthly
The first net monthly gain since Aug'2020, settling +$1.13 (6.0%) to $19.80, which was a fifth monthly settlement under the monthly 10MA. Momentum ticked lower, is on the moderately low side.
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Pan American Silver (PAAS), monthly
A net March decline of -$2.99 (9.1%) to $30.03, as February's black candle played out. Monthly momentum is set to turn negative in April.
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